Taylor, age 18, is a dependent of her parents. For 2018, she records the following income: $4,000
Question:
Taylor, age 18, is a dependent of her parents. For 2018, she records the following income: $4,000 wages from a summer job, $1,800 interest from a money market account, and $2,000 interest from City of Boston bonds.
a. What is Taylor's taxable income?
b. What is Taylor's Federal income tax liability' for 2018?
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a Wages 4000 Money market interest 1800 Bond interest City of Boston bond interest is taxexempt 0 Gr...View the full answer
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Related Book For 
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th Edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
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